SYDNEY/WELLINGTON, April 22 (Reuters) - The Australian and New Zealand dollars inched closer to recent five-year peaks against the yen on Monday, while bounced off recent lows against the U.S. dollar and euro.
* G20 stops short of criticising Japan's reflationary policies drive, which sends the dollar a whisker away from the elusive 100 level.
* That, in turn, lifts the Aussie to 102.89 yen, from a low of 100.84 on Friday. Kiwi edges 0.5 pct higher on the day to 84.39 yen.
* Aussie/yen buying also supports the Aussie at $1.0305, having recovered from a dip $1.0266 in early trade, its weakest since March 11. It remains well below a three-month high of $1.0583 set earlier this month.
* Aussie nursing heavy losses after a run on commodities left it 2 pct lower on the week, the largest such decline in nearly a year.
* Technical signs are bearish for the Aussie having broken below $1.0351, its 55-day moving average. Support seen at $1.0250/70.
* The New Zealand dollar at $0.8458, having recovered from $0.8383 in early local trade. Concerns that global economic growth is stalling has knocked the kiwi from a 20-month high of $0.8676 hit just over a week ago.
* The kiwi has broken below trendline support at $0.8425, drawn from lows hit during its March-April rally, which may leave it vulnerable to more selling. Technical support seen at $0.8370, its 55-DMA, and $0.8358, the 61.8 percent retracement of its latest rally.
* Euro pauses after recent hefty gains against both Antipodeans. Euro near one-month highs at A$1.2695, having jumped more than 3 pct so far this month.
* Euro at NZ$1.5473, having briefly touched NZ$1.5602 in early trade, its highest in a month.
* No major events on Monday, but markets await Australian CPI this week. A soft figure may increase speculation of another interest rate cut which could be negative for the Aussie.
* The Reserve Bank of New Zealand makes a policy announcement on Wednesday and is expected to remain on hold again. It will likely repeat concerns about rising real estate prices but that is balanced by the very high level of the NZ dollar.
* Australian government bonds off recent four-month highs with the three-year contract 0.030 points lower at 97.300, while the 10-year contract is also off 0.03 points.
* New Zealand government bonds a touch softer with yields 2.5 basis points higher along the curve.
(Australia and New Zealand bureaux) Keywords: MARKETS AUSTRALIA NEWZEALAND/FOREX
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